WhaleCreep

Trian Fund Management, L.P. 13F holdings, Q3 2011

Hedge fundSEC filingsCompare with another fundHoldings as of 2011-09-30, filed 2011-11-14

Trian Fund Management, L.P. disclosed 16 US equity positions worth $2.7bn in its Q3 2011 13F filing. Its largest position is Kraft Foods Inc at 21.3% of the reported book, followed by LMEUR and FAMILY DLR STORES INC. Versus Q2 2011 it opened 3 new positions, added to 6, reduced 6 and exited 7.

$2.7bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
16
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.3%
Largest position
The largest single position as a share of the reported equity book.
99.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
8
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
62
Quarters on file since Q1 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2011: 3 new, 6 added, 6 reduced, 7 exited

16 rows
Kraft Foods Inc no ticker–21.3%$581m17.31m0.0%held
LMEUR LEGG MASON INC–13.9%$378m14.70m+31%added
FAMILY DLR STORES INC no ticker–13.5%$368m7.23m+17%added
WEN The Wendy's CoConsumer Cyclical12.9%$352m76.62m–new
STT STATE STR CORPFinancial Services11.5%$313m9.73m+58%added
TIFEUR TIFFANY & CO NEW–10.0%$273m4.48m−12%reduced
DPZ DOMINOS PIZZA INCConsumer Cyclical5.9%$161m5.92m−1.3%reduced
PEP PEPSICO INCConsumer Defensive5.3%$146m2.36m–new
SPY SPDR S&P 500 ETF Trust–3.2%$87.7m775,000+72%added
Heinz HJ Co no ticker–2.0%$53.8m1.07m−48%reduced
CHARTER COMMUNICATIONS INC D no ticker–0.2%$4.2m90,111+73%added
LYONDELLBASELL INDUSTRIES NV no ticker–0.1%$3.9m160,000+2.2%added
ISTAR INC no ticker–0.08%$2.1m354,900−17%reduced
CBS CORP NEW no ticker–0.07%$1.9m95,000–new
BELO CORP no ticker–0.04%$978k200,000−31%reduced
LIN TV CORP no ticker–0.03%$874k400,910−28%reduced

Exited since Q2 2011

7 rows
Wendys Arbys Group Inc no ticker14.0%$388m
CONSOL ENERGY INC no ticker1.2%$33.9m
CLGX CORELOGIC INC0.8%$22.5m
Peets Coffee & Tea Inc no ticker0.6%$17.3m
GLD SPDR GOLD TRUST0.07%$2.0m
LVS LAS VEGAS SANDS CORP0.06%$1.7m
TIME WARNER CABLE INC no ticker0.06%$1.6m

Sector mix

  • Unclassified64.4%
  • Consumer Cyclical18.8%
  • Financial Services11.5%
  • Consumer Defensive5.3%

Book over time

Every quarter on file (62)
QuarterPositionsEquity book
Q2 20268$4.2bn
Q1 20268$3.9bn
Q4 20257$4.0bn
Q3 20257$4.1bn
Q2 202510$3.8bn
Q1 202510$3.7bn
Q4 202410$3.9bn
Q3 202410$3.9bn
Q2 202412$4.1bn
Q1 20249$8.0bn
Q4 20239$7.0bn
Q3 20239$6.6bn
Q2 20238$3.9bn
Q1 20238$3.8bn
Q4 20228$4.9bn
Q3 20228$3.8bn
Q2 20228$4.5bn
Q1 20228$6.0bn
Q4 20219$7.5bn
Q3 20219$8.0bn
Q2 20219$8.6bn
Q1 20219$8.5bn
Q4 20208$6.8bn
Q3 20209$6.1bn
Q2 202010$5.5bn
Q1 20208$6.9bn
Q4 20198$9.5bn
Q3 20198$9.6bn
Q2 20199$9.5bn
Q1 20198$9.3bn
Q4 20189$9.2bn
Q3 20189$10.3bn
Q2 20189$10.3bn
Q1 20187$9.9bn
Q4 20177$11.8bn
Q3 20178$13.0bn
Q2 20178$13.3bn
Q1 20178$13.3bn
Q4 20168$11.1bn
Q3 20167$10.2bn
Q2 20167$10.5bn
Q1 20169$10.4bn
Q4 201510$12.3bn
Q3 201512$11.7bn
Q2 201512$10.4bn
Q1 201510$8.6bn
Q4 201411$9.4bn
Q3 201411$7.6bn
Q2 201411$6.8bn
Q1 201412$6.1bn
Q4 201311$5.9bn
Q3 201310$5.5bn
Q2 201312$5.1bn
Q1 201310$4.7bn
Q4 201211$3.1bn
Q3 201210$3.5bn
Q2 20129$3.1bn
Q1 201212$3.9bn
Q4 20118$2.7bn
Q3 201116$2.7bn
Q2 201120$2.8bn
Q1 201116$2.1bn

Where Trian Fund Management, L.P. was early

15 rows
DPZ Dominos Pizza IncQ2 20111 of 1735.4%5.9%4Exited by Q2 2012+44%
WEN Wendys Co.Q3 20111 of 12712.9%15.0%60Held at last filing, Q2 2026+81%
PEP PepsiCo Inc.Q3 201113 of 1395.3%21.9%14Exited by Q1 2016+61%
IR Ingersoll-Rand PLCQ1 20121 of 1316.3%20.6%15Exited by Q4 2015+23%
LAZ Lazard LtdQ1 20122 of 1064.1%5.3%12Exited by Q1 2015+75%
MDLZ Mondelez Intl Inc.Q4 20122 of 14515.8%26.4%43Exited by Q3 2023+187%
ALLE Allegion Pub Ltd CoQ4 20132 of 1413.0%3.0%6Exited by Q2 2015+38%
BNY Bank New York Mellon Corp.Q1 20149 of 1545.4%14.7%26Exited by Q3 2020+9.5%
SYY Sysco CorporationQ2 20155 of 1413.6%28.2%34Exited by Q2 2024+125%
GE GE AerospaceQ2 201510 of 24212.7%35.6%45Held at last filing, Q2 2026+194%
PNR Pentair PLCQ4 20167 of 1277.2%10.6%9Exited by Q1 2019+0.3%
NVT nVent Electric PlcQ2 20182 of 1574.3%5.1%10Exited by Q4 2020−30%
PPG PPG Inds Inc.Q2 201813 of 1382.6%7.8%5Exited by Q3 2019+13%
GEHC GE HealthCare Technologies Inc.Q1 20235 of 1582.9%4.7%14Held at last filing, Q2 2026−22%
SOLV Solventum CorporationQ2 20244 of 1096.9%17.2%9Held at last filing, Q2 2026+46%

Concentration and tenure

24.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
100%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
4
Median completed holding, quarters